Peloton Interactive (NASDAQ:PTON) Trading Down 3.8% – Here’s What Happened

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price was down 3.8% during mid-day trading on Monday . The stock traded as low as $6.90 and last traded at $6.78. Approximately 1,169,517 shares were traded during trading, a decline of 93% from the average daily volume of 15,770,081 shares. The stock had previously closed at $7.05.

Analysts Set New Price Targets

Several research analysts recently issued reports on PTON shares. Macquarie reissued a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a report on Monday, February 10th. Argus raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday, February 11th. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and raised their price target for the company from $2.50 to $10.00 in a research report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group raised their price target on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Peloton Interactive has an average rating of “Hold” and a consensus price target of $8.69.

Peloton Interactive Price Performance

The company’s 50 day moving average price is $8.12 and its two-hundred day moving average price is $7.45. The stock has a market capitalization of $2.52 billion, a PE ratio of -8.42 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 187,238 shares of Peloton Interactive stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the transaction, the insider now directly owns 100,269 shares of the company’s stock, valued at $646,735.05. The trade was a 65.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. This trade represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,719 shares of company stock valued at $4,958,301 over the last ninety days. Company insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in PTON. Gtcr LLC purchased a new stake in shares of Peloton Interactive in the 3rd quarter valued at approximately $65,520,000. Hennessy Advisors Inc. purchased a new stake in shares of Peloton Interactive in the 4th quarter valued at approximately $85,260,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Peloton Interactive by 38.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company’s stock valued at $146,337,000 after acquiring an additional 4,635,667 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Peloton Interactive in the fourth quarter valued at approximately $39,992,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Peloton Interactive by 245.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock valued at $36,782,000 after purchasing an additional 3,004,757 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

About Peloton Interactive

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.